The most valuable asset in any business, whether a milk bar or a multi-national corporation is the key people who run the business. The loss of the managerial skills, expertise and leadership of a key person can have a substantial impact on revenue and profitability. Considerable costs can be incurred in recruiting and training a suitable replacement. There may also be an adverse impact on the business’s goodwill and its ability to repay debts or other expenses.
At BluePrint Advisors we can outline the tax and technical implications of using insurance to protect a business in the event of the death, disablement or critical illness of a key person.
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